Neverland Company, the development studio behind games like Rune Factory and the classic Lufia series, has confirmed that it will be ceasing its operations today.

This news comes after their more recent games have failed to meet sales expectations, which contributed to their loans growing rather than being paid off. The company also filed for bankruptcy in the Tokyo district court.

Neverland Company was founded on May 7th, 1993. Its first fully developed game was Lufia & the Fortress of Doom for the Super Nintendo.

It seems that the growing trend of AA studios being either absorbed into large publishers or going bankrupt is continuing, while the rise of indies still gives me hope for industry growth.